Canada’s housing affordability has now seen 10 consecutive quarters of challenge—a trend many of my clients in Vancouver ask about daily. With mortgage rate relief no longer expected to ease the situation, affordability will rely more on moderating home prices and growing incomes in the months ahead. Over the next year, economists predict mortgage rates will hold steady or potentially rise, meaning any improvements in affordability will hinge on price stability. Slower population growth may help limit housing demand, putting some pressure on prices, while a strengthening labour market is set to support household incomes.
These national trends, though, play out very differently across Canadian cities. In Vancouver, where I’ve guided local families, new immigrants, and global investors for over 16 years, the market dynamics differ greatly from cities like Calgary or Edmonton. Each client’s situation is truly unique—especially for those navigating cross-border investments or settling in a new country. As always, a clear understanding of both housing trends and income prospects is essential for making informed decisions in our ever-evolving market.
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